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Author: Michael Schulz Publisher: Springer ISBN: 0387217134 Category : Mathematics Languages : en Pages : 252
Book Description
This systematic book covers in simple language the physical foundations of evolution equations, stochastic processes and generalized Master equations applied on complex economic systems, helping to understand the large variability of financial markets, trading and communications networks.
Author: Michael Schulz Publisher: Springer ISBN: 0387217134 Category : Mathematics Languages : en Pages : 252
Book Description
This systematic book covers in simple language the physical foundations of evolution equations, stochastic processes and generalized Master equations applied on complex economic systems, helping to understand the large variability of financial markets, trading and communications networks.
Author: Johannes Voit Publisher: Springer Science & Business Media ISBN: 3662044234 Category : Science Languages : en Pages : 227
Book Description
A careful examination of the interaction between physics and finance. It takes a look at the 100-year-long history of co-operation between the two fields and goes on to provide new research results on capital markets - taken from the field of statistical physics. The random walk model, well known in physics, is one good example of where the two disciplines meet. In the world of finance it is the basic model upon which the Black-Scholes theory of option pricing and hedging has been built. The underlying assumptions are discussed using empirical financial data and analogies to physical models such as fluid flows, turbulence, or superdiffusion. On this basis, new theories of derivative pricing and risk control can be formulated.
Author: Peter Richmond Publisher: Oxford University Press, USA ISBN: 0199674701 Category : Business & Economics Languages : en Pages : 258
Book Description
This book summarises progress in the understanding of financial markets and economics based on the established methodology of statistical physics. It offers a new approach to the fundamentals of economics that offers the potential for increased insight and understanding. It should be of interest to all serious students of the subject.
Author: Hideaki Aoyama Publisher: Cambridge University Press ISBN: 1108225802 Category : Science Languages : en Pages : 438
Book Description
The concepts of statistical physics and big data play an important role in the evidence-based analysis and interpretation of macroeconomic principles. The techniques of complex networks, big data, and statistical physics are useful to understand theories of economic systems, and the authors have applied these to understand the intricacies of complex macroeconomic problems. Recent research work using tools and techniques of big data, statistical physics, complex networks, and statistical science is covered, and basic graph algorithms and statistical measures of complex networks are described. The application of big data and statistical physics tools to assess price dynamics, inflation, systemic risks, and productivity is discussed. Chapter-end summary and numerical problems are provided to reinforce understanding of concepts.
Author: Michael Schulz Publisher: Springer Science & Business Media ISBN: 0387002820 Category : Mathematics Languages : en Pages : 322
Book Description
This systematic book covers in simple language the physical foundations of evolution equations, stochastic processes and generalized Master equations applied on complex economic systems, helping to understand the large variability of financial markets, trading and communications networks.
Author: Philip Mirowski Publisher: Cambridge University Press ISBN: 9780521426893 Category : Business & Economics Languages : en Pages : 468
Book Description
The development of the energy concept in Western physics and its subsequent effect on the emergence of neoclassical economics are traced to reveal how economics has sought to emulate physics, especially with regard to the theory of value.
Author: Sitabhra Sinha Publisher: John Wiley & Sons ISBN: 3527408150 Category : Science Languages : en Pages : 371
Book Description
Filling the gap for an up-to-date textbook in this relatively new interdisciplinary research field, this volume provides readers with a thorough and comprehensive introduction. Based on extensive teaching experience, it includes numerous worked examples and highlights in special biographical boxes some of the most outstanding personalities and their contributions to both physics and economics. The whole is rounded off by several appendices containing important background material.
Author: Rosario N. Mantegna Publisher: Cambridge University Press ISBN: 1139431226 Category : Business & Economics Languages : en Pages : 164
Book Description
This book concerns the use of concepts from statistical physics in the description of financial systems. The authors illustrate the scaling concepts used in probability theory, critical phenomena, and fully developed turbulent fluids. These concepts are then applied to financial time series. The authors also present a stochastic model that displays several of the statistical properties observed in empirical data. Statistical physics concepts such as stochastic dynamics, short- and long-range correlations, self-similarity and scaling permit an understanding of the global behaviour of economic systems without first having to work out a detailed microscopic description of the system. Physicists will find the application of statistical physics concepts to economic systems interesting. Economists and workers in the financial world will find useful the presentation of empirical analysis methods and well-formulated theoretical tools that might help describe systems composed of a huge number of interacting subsystems.
Author: Hideaki Aoyama Publisher: Cambridge University Press ISBN: 9781107403482 Category : Business & Economics Languages : en Pages : 0
Book Description
Econophysics is an emerging interdisciplinary field that takes advantage of the concepts and methods of statistical physics to analyse economic phenomena. This book expands the explanatory scope of econophysics to the real economy by using methods from statistical physics to analyse the success and failure of companies. Using large data sets of companies and income-earners in Japan and Europe, a distinguished team of researchers show how these methods allow us to analyse companies, from huge corporations to small firms, as heterogeneous agents interacting at multiple layers of complex networks. They then show how successful this approach is in explaining a wide range of recent findings relating to the dynamics of companies. With mathematics kept to a minimum, the book is not only a lively introduction to the field of econophysics but also provides fresh insights into company behaviour.
Author: Michael Schulz
Author: Michael Schulz
Author: Johannes Voit
Author: Peter Richmond
Author: Hideaki Aoyama
Author: Michael Schulz
Author: Sunny Y. Auyang
Author: Philip Mirowski
Author: Sitabhra Sinha
Author: Rosario N. Mantegna
Author: Hideaki Aoyama